Fred Alger Management LLC Boosts Stake in Nurix Therapeutics, Inc. (NASDAQ:NRIX)

Fred Alger Management LLC lifted its holdings in Nurix Therapeutics, Inc. (NASDAQ:NRIX) by 336.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,014 shares of the company’s stock after purchasing an additional 127,948 shares during the period. Fred Alger Management LLC’s holdings in Nurix Therapeutics were worth $3,730,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of NRIX. Amalgamated Bank grew its holdings in Nurix Therapeutics by 30.6% in the third quarter. Amalgamated Bank now owns 2,182 shares of the company’s stock valued at $49,000 after purchasing an additional 511 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Nurix Therapeutics by 31.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,330 shares of the company’s stock valued at $54,000 after acquiring an additional 559 shares during the period. GAMMA Investing LLC increased its holdings in Nurix Therapeutics by 299.8% in the 2nd quarter. GAMMA Investing LLC now owns 4,566 shares of the company’s stock worth $95,000 after acquiring an additional 3,424 shares in the last quarter. International Assets Investment Management LLC raised its position in Nurix Therapeutics by 1,098.4% during the third quarter. International Assets Investment Management LLC now owns 4,494 shares of the company’s stock worth $101,000 after acquiring an additional 4,119 shares during the period. Finally, Quest Partners LLC lifted its holdings in Nurix Therapeutics by 21.3% during the third quarter. Quest Partners LLC now owns 7,458 shares of the company’s stock valued at $168,000 after purchasing an additional 1,312 shares in the last quarter.

Insider Buying and Selling

In related news, insider Christine Ring sold 3,290 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $25.00, for a total transaction of $82,250.00. Following the sale, the insider now directly owns 24,592 shares of the company’s stock, valued at $614,800. This represents a 11.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gwenn Hansen sold 3,437 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $24.30, for a total transaction of $83,519.10. Following the completion of the transaction, the insider now directly owns 50,670 shares of the company’s stock, valued at $1,231,281. This represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,451 shares of company stock valued at $663,160. Corporate insiders own 7.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on NRIX. UBS Group initiated coverage on shares of Nurix Therapeutics in a research note on Thursday, October 24th. They set a “buy” rating and a $35.00 target price for the company. Stephens reissued an “overweight” rating and set a $31.00 target price on shares of Nurix Therapeutics in a report on Monday, October 14th. HC Wainwright lifted their price target on Nurix Therapeutics from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Jefferies Financial Group assumed coverage on Nurix Therapeutics in a research note on Friday, October 11th. They issued a “buy” rating and a $41.00 price objective for the company. Finally, Oppenheimer raised their price objective on Nurix Therapeutics from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.40.

Nurix Therapeutics Stock Up 4.1 %

NRIX stock opened at $22.11 on Friday. Nurix Therapeutics, Inc. has a one year low of $5.95 and a one year high of $29.56. The firm’s 50 day moving average price is $24.02 and its 200-day moving average price is $21.80.

Nurix Therapeutics (NASDAQ:NRIX) last issued its quarterly earnings data on Friday, October 11th. The company reported ($0.67) EPS for the quarter, hitting the consensus estimate of ($0.67). Nurix Therapeutics had a negative net margin of 313.65% and a negative return on equity of 63.39%. The firm had revenue of $12.59 million for the quarter, compared to analyst estimates of $13.85 million. As a group, research analysts expect that Nurix Therapeutics, Inc. will post -2.81 earnings per share for the current fiscal year.

About Nurix Therapeutics

Nurix Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule and cell therapies for the treatment of cancer, inflammatory conditions, and other diseases. The company develops NX-2127, an orally bioavailable Bruton's tyrosine kinase (BTK) degrader for the treatment of relapsed or refractory B-cell malignancies; NX-5948, an orally bioavailable BTK degrader for the treatment of relapsed or refractory B-cell malignancies and autoimmune diseases; and NX-1607, an orally bioavailable Casitas B-lineage lymphoma proto-oncogene-B (CBL-B) inhibitor for immuno-oncology indications.